ED Seizes Additional ₹510 Crore Assets from Anil Ambanis Reliance Group
The Enforcement Directorate has seized assets worth ₹510 crore linked to Anil Ambanis group amid fraud investigations.
New Delhi, November 3 (Daily Kiran) : The Enforcement Directorate (ED) has confiscated assets valued at ₹510 crore from the Reliance Group, led by Anil Ambani, in connection with alleged fraud cases. The seized assets include aircraft, bank deposits, fixed deposits, real estate, and various investments. This announcement was made by the agency on Tuesday.
In the case involving Reliance Home Finance Limited and Reliance Commercial Finance Limited, assets worth ₹263.05 crore were seized. Meanwhile, in a separate bank fraud case linked to Reliance Communications Limited (RCom), assets totaling ₹247.12 crore were confiscated.
Among the assets taken from RCom are two chartered aircraft, six plots of land in Maharashtra, and office premises. Additionally, in the cases concerning Reliance Commercial Finance Limited and Reliance Home Finance Limited, two wind farms in Tamil Nadu, along with bank deposits, fixed deposits, investments, and receivables, were also seized.
With these recent seizures, the ED has now confiscated approximately ₹23,100 crore in various cases against the Reliance Anil Ambani Group under the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA).
The ED’s investigation was initiated based on multiple FIRs lodged by the Central Bureau of Investigation (CBI), the Economic Offenses Wing of the Delhi Police, and the Economic Offenses Wing of the Mumbai Police. The agency is also probing two cases under FEMA. Companies under scrutiny include Reliance Communications Limited, Reliance Home Finance Limited, Reliance Commercial Finance Limited, Reliance Infrastructure Limited, Reliance Power Limited, and Reliance Capital Limited.
According to the ED’s statement, the investigation revealed that the group was involved in various malpractices, including misappropriation of public funds obtained from banks and financial institutions, fraudulent protection of corporate assets for personal use through the Insolvency and Bankruptcy Code (IBC), and transferring public funds from India to foreign tax havens. A significant portion of these funds was reportedly used for personal benefits by promoters and their family members.
So far, the ED has arrested ten individuals in connection with these cases and filed six prosecution complaints under the PMLA, 2002, along with one complaint under FEMA. Further investigations are ongoing.
